VANCOUVER, BRITISH COLUMBIA--(Marketwire - Feb. 10, 2011) - Imperial Ginseng Products Ltd. (TSX VENTURE:IGP)(TSX VENTURE:IGP.PR.A) ("Imperial") is pleased to announce that it has obtained approval from the TSX Venture Exchange for the consolidation of two share classes. The post-consolidation common shares and convertible preference shares, Series "A" will commence trading on the TSX Venture Exchange on Friday, February 11, 2011. The trading symbol for each share class remains unchanged.
All issued and outstanding common shares of Imperial's will be consolidated on the basis of ten (10) existing shares for one post-consolidation share. Imperial's convertible preference shares, Series "A" will be consolidated on the basis of twenty (20) existing shares for one (1) post-consolidation share. Upon the implementation of the consolidation, it is estimated that, subject to rounding, there will be approximately 2,237,500 common shares and 1,272,800 convertible preference shares, Series "A" issued and outstanding.
Imperial's registered shareholders have been sent a letter of transmittal detailing the exchange procedures for post-consolidation share certificates. Shareholders are also invited to contact Computershare Investor Services Inc., Imperial's transfer agent and registrar, by phone at 1-800-564- 6253 or by email to firstname.lastname@example.org for additional forms or if further information on the share certificate exchange procedures is required.
Imperial also made a note to clarify that conversion price of the convertible preference shares, Series "A" for one common share will be proportionally adjusted upon the implementation of the consolidation.
Details regarding the share consolidation are contained in Imperial's management information circular available on SEDAR at www.sedar.com.
ON BEHALF OF THE BOARD OF DIRECTORS OF IMPERIAL GINSENG PRODUCTS LTD.
Stephen McCoach, Chief Executive Officer and Director
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.